CDPQ to co-invest in Colombian infrastructure with FDN
Caisse de dépôt et placement du Québec (CDPQ) has announced that it has launched an infrastructure co-investment platform with Financiera de Desarrollo Nacional (FDN), the national development finance agency of Colombia.
FDN and Colombian pension fund administrators (AFPs) have created a new private capital fund of US$490 million. This fund will co-invest with CDPQ through a platform whose objective is to make capital investments in infrastructure projects and companies for a total amount of up to US$1 billion. CDPQ will contribute up to US$510 million. The minimum size of each investment will be US$50 million, split between the fund and CDPQ.
Following significant efforts to raise infrastructure debt financing, FDN identified a need for equity investments. This has motivated the creation of the private capital fund, the co-investment platform and the partnership with CDPQ. Through these three initiatives, FDN will be able to mobilize up to ten times the invested resources.
The investment processes of the private investment capital fund will be conducted by the administrator, INFRAESTRUCTURA ASSET MANAGEMENT COLOMBIA SAS, a wholly-owned FDN subsidiary.
Investors in the private capital fund will include FDN, with up to 20% of the total, and the remaining 80% will come from Colfondos, Old Mutual, Porvenir and Protección.
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